CLICK HERE TO MEET NICOLA AT THE LONDON CONFERENCE

In this special episode of Truth About FX, Walter is joined by Fan economist and a private trader, Nicola McLaughlin. They talk about trading psychology and how it affects your results and how that can change your trading mindset, and your outlook in life as a whole.

Nicola talks about he used her background in economics and relates that to her trading experience.

Download (Duration: 45:34 / 52.1 MB)

In This Episode:

01:06 – trading club

03:05 – confession

05:43 – escape

07:22 – more concrete

09:05 – positive thinking

11:58 – the golfer

16:09 – a head game

19:23 – limitations

21:51 – greatest benefit

24:24 – on pause

27:04 – counterproductive

30:16 – emotional connection

33:03 – a place of stress

35:12 – driving a car

37:16 – trading blind

41:06 – flawless

43:50 – invisible

Tweetables:

Trading is like another language [Click To Tweet].

Learn to manage stress  [Click To Tweet].

All emotions are useful, even the negative ones  [Click To Tweet].

Announcer: Sometimes, forex trading can be a wild and wooly place to be but forex trading doesn’t have to be the bad lands for your partner instead hunker down and bend your ear. You will be burning the breeze in no time. Here at the Truth About FX Podcast.

Walter: Welcome! It’s Walter here and today we have Nicola, a private trader and Economist. If you’ve seen some of our webinars, you know that she had a very popular webinar on her trading system and the psychology behind her trading.

She is going to talk a bit today about trading psychology and how that it impacts your results, how that can change your approach to your trading, how that can completely change other areas of your life as well. She is going to talk about these at the conference so welcome, Nicola.

Nicola: Thank you so much, Walter. I started when I was at University. I wasn’t trading forex, I was trading stocks and shares. I’ve got into a trading club with a couple of other students, economic students. We used the money that we earned to help pay for our Uni-fees and things like that. 

So, that was my first exposure to trading but I never felt quite right and I drifted away from it and then, later in life after Uni, I’ve got into trading options, and again, it never really quite felt right. I mean, I was good at it. I just wasn’t comfortable with it for a long term thing and I just got drifted away again, then I became a mother. I was just reading about forex and I thought, “Let’s try forex.”

Once I discovered the world of forex, I realized it’s what I’ve been looking for the whole time because I’m much more interested in macroeconomics, the bigger picture and with stocks and shares, for example.